June 12 (Renewables Now) - Dubai-based investment firm International Power and Water Investments (IPWI) has saved Gaia Wind Ltd, the UK small wind turbines maker that entered liquidation in early 2018.
It was announced on Monday that Gaia Wind (Green Energy Solutions) Limited, a firm recently incorporated in Scotland, has acquired the intellectual property rights and assets of Gaia Wind. IPWI’s founder and head, Alistair Munro, will be leading the revived company as its chairman and CEO.
Gaia Wind is a producer of small-scale turbines for moderate wind speed areas. According to Munro, even now the firm sees demand for the product both across the UK and internationally. The Dubai-based investor also has a significant interest in 4 Navitas (Green Energy Solutions) Limited, which has recently commercialised a 55-kW vertical axis wind generator.
“In addition to the current demand we are seeing, we will also be looking to create synergies with our existing investment into 4 Navitas, support our existing client base in our current markets and expand the international reach of the Gaia Wind business especially into emerging markets where wind resources mean reliable power for small communities and industry," Munro stated.
John Gallacher, who acted as sales and marketing director, and other high performing former employees will be rejoining the company, the announcement says.